Jacobs Levy Equity Management Inc. Has $11.82 Million Stock Position in Teekay Tankers Ltd. (NYSE:TNK)

Jacobs Levy Equity Management Inc. cut its stake in shares of Teekay Tankers Ltd. (NYSE:TNK) by 12.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 202,358 shares of the shipping company’s stock after selling 28,222 shares during the period. Jacobs Levy Equity Management Inc. owned 0.59% of Teekay Tankers worth $11,820,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in TNK. Tucker Asset Management LLC bought a new position in Teekay Tankers in the 4th quarter valued at about $38,000. EntryPoint Capital LLC boosted its position in shares of Teekay Tankers by 76.5% during the 1st quarter. EntryPoint Capital LLC now owns 872 shares of the shipping company’s stock worth $51,000 after acquiring an additional 378 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in Teekay Tankers in the fourth quarter valued at approximately $80,000. Assetmark Inc. raised its position in Teekay Tankers by 82.6% during the fourth quarter. Assetmark Inc. now owns 2,758 shares of the shipping company’s stock valued at $138,000 after purchasing an additional 1,248 shares in the last quarter. Finally, Ritholtz Wealth Management bought a new stake in Teekay Tankers during the fourth quarter worth $219,000. Institutional investors and hedge funds own 52.67% of the company’s stock.

Teekay Tankers Price Performance

Shares of NYSE TNK traded up $1.94 during midday trading on Wednesday, reaching $65.17. The company’s stock had a trading volume of 61,986 shares, compared to its average volume of 369,410. The firm has a 50 day moving average price of $67.77 and a 200-day moving average price of $61.91. Teekay Tankers Ltd. has a 12-month low of $37.20 and a 12-month high of $74.20. The stock has a market capitalization of $2.23 billion, a P/E ratio of 4.47, a PEG ratio of 1.53 and a beta of -0.28.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Thursday, May 9th. The shipping company reported $3.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.70 by $0.16. The business had revenue of $221.81 million for the quarter. Teekay Tankers had a return on equity of 30.73% and a net margin of 37.39%. On average, equities analysts predict that Teekay Tankers Ltd. will post 13.78 EPS for the current year.

Teekay Tankers Announces Dividend

The firm also recently disclosed a None dividend, which was paid on Friday, May 31st. Investors of record on Tuesday, May 21st were issued a $2.25 dividend. This represents a yield of 1.5%. The ex-dividend date of this dividend was Monday, May 20th. Teekay Tankers’s dividend payout ratio (DPR) is presently 7.07%.

Wall Street Analysts Forecast Growth

TNK has been the subject of several recent analyst reports. Jefferies Financial Group upped their price objective on Teekay Tankers from $70.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Evercore ISI raised their price objective on Teekay Tankers from $84.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. StockNews.com upgraded Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. Finally, Bank of America upped their price objective on shares of Teekay Tankers from $66.00 to $79.00 and gave the company a “buy” rating in a report on Friday, May 10th.

Teekay Tankers Company Profile

Teekay Tankers Ltd. provides crude oil and other marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products; and tanker commercial and technical management services.